Tata Power Renewable Energy Ltd. (TPREL), a subsidiary of Tata Power, has announced the successful commissioning of two solar projects of 50 MW each in Ananthapuramu Solar Park, located in the state of Andhra Pradesh.
The company has signed a 25 years power purchase agreement (PPA) with Solar Energy Corporation of India (SECI). These two grid connected solar power projects have been developed under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase II, Batch-III and have been implemented through Viability Gap Funding (VGF) Mode.
According to the TPREL, with this commissioning, its total renewable power operating capacity has reached ~2.2 GW, out of which ~1.3 GW consists of solar projects and 931 MW comprises wind projects. It is also in the process of executing 121 MW of renewable power projects at many locations on Greenfield basis.
Earnings from renewables comprised a significant contributor to Tata Power’s Annual Profit of ₹26.79 billion (~$0.39 billion) for FY 2017-18, as reported previously by Mercom. Its underlying business EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization), including joint venture companies, increased by 17 percent to ₹101.04 billion (~$1.514 billion) in FY 2018, mainly due to a 46 percent increase in its renewable business.
According to the latest India Solar Market Leaderboard 2017, in the calendar year 2017, Tata Power was the top rooftop installer in 2017 followed by CleanMax and Fourth Partner Energy.
The Ananthapuramu Solar Park is spread over a total area of 7,924.76 acres in Nambulapulakunta mandal located in the Ananthapur district of Andhra Pradesh.
In May 2018, Azure power commissioned a 50 MW project in Ananthapuramu Solar Park in Andhra Pradesh. The project is spread across 250 acres and will supply power for 25 years to Solar Energy Corporation of India (SECI).
In the same month, Sprng Energy, Ayana Renewable Power, and SB Energy emerged as the winners in the auction held by the National Thermal Corporation of India (NTPC) for 750 MW of solar projects in Ananthapuramu Solar Park.
